Mortgages

The interest rate applied to the mortgage repayment is linked directly to the Bank of England’s base rate and will rise and fall in line with that rate.

Where a mortgage borrower also has savings, by giving up the interest on those savings he or she can reduce the amount of interest they pay on their mortgage debt.

Buy-to-let (BTL) mortgages are specifically for individuals who wish to buy residential property which they intend renting to tenants. Although a BTL mortgage is similar in a number of respects to a standard residential mortgage, there are some significant differences between the two.

For those who want to build their own home, a conventional residential mortgage is not an option. Instead, the self-builder would need to apply for a self-build mortgage. Not every lender is active in the self-build mortgage market and those that are, tend to charge a higher rate of interest for self-build mortgages.

We do not provide advice and services in relation to Second Charge Mortgages but will be happy to refer customers to a specialist broker.

A separate and additional mortgage to the homeowner’s main (or first) mortgage. Second charge mortgages (sometimes known as ‘Homeowner Loans’) are loans that are secured against the borrower’s residential property, and as such, are available only to homeowners. In common with remortgaging, second-charge mortgages are sometimes used by homeowners to raise money.